Welcome!

News Feed Item

Wanxiang and NEC to Form Joint Venture for Grid Energy Storage in China

China Wanxiang Holding announced today the planned formation of a joint venture between its wholly-owned subsidiary, Puxing Energy, and NEC Corporation to pursue grid energy storage opportunities in the Chinese market. The joint venture, 51% held by Wanxiang and 49% held by NEC, is scheduled to begin initial business activities later this year. Its formation is an important element of the recently announced NEC acquisition of A123 Energy Solutions, a global leader in grid-scale energy storage systems for applications ranging from grid stabilization services like frequency response to the grid integration of renewable power sources such as wind or solar. Wanxiang and NEC recognized that the best way to prosper in China’s developing market for grid energy storage is to pursue it jointly. Initially the joint venture will focus on market development of the best applications for its technology.

“With more and more renewable energies deployed in China, in which Puxing has been actively participating, the energy storage business has been driven to the front. NEC and the former A123 Energy Solutions Group have developed leading technology and successfully executed advanced project solutions in the energy storage field worldwide. Puxing is firmly committed to building a business and technology foundation to meet the growing demand of the Chinese market in partnership with NEC,” said Weiding Lu, Chairman of China Wanxiang Holding and Chairman of Puxing Energy. “We see tremendous business opportunities in the accelerated transformation of China’s development model and its closely related energy structure, a key driver for the changing market landscape throughout the value chain of China’s power sector. By this partnership with NEC as our technology and operating platform, we are well positioned to participate in these opportunities, further leveraging Wanxiang’s financial and business resources in the marketplace.”

A123 Energy Solutions has commissioned two installations of its Grid Storage Solution (GSS™) product line in China in recent months. The first, a containerized 2MW HR (High Rate) GSS located in Beijing, performs frequency regulation and is in commercial service, operated by Ray Power Systems Co. Ltd. The second is a building-based 500kW HR GSS located in Hangzhou and is operated by Dongfang Electric Machinery Co. Ltd., to help integrate on-site renewable generation including wind and solar as well as traditional combustion generation at the site’s microgrid. China, with its growing infrastructure needs, has some of the largest public works projects in the world related to power generation and transmission, and has installed large amounts of renewable generation that could benefit greatly from the introduction of large-scale energy storage alongside traditional grid assets.

About Wanxiang

Wanxiang Group was founded by Dr. Lu Guanqiu, who is regarded as a legendary entrepreneur in China for taking $500 in start-up capital in 1969 to create a farm tool repair shop and transforming it into one of the largest non-government-owned companies in China. The company is the country’s largest automotive components manufacturer, and a conglomerate with more than $23 billion (USD) in revenue covering businesses including financial services, clean energy, agricultural products, international trading, natural resources, and other areas. For more information, visit Wanxiang at http://www.wanxiang.com.cn.

About Puxing Energy

Puxing Energy, a wholly-owned subsidiary of China Wanxiang Holding Co., was founded in 2002, in Shanghai, China, dedicated to clean energy development in China. Since its inception, Puxing Energy has built up a significant energy portfolio including natural gas power plants and wind farms. Its natural gas power generation subsidiary, Amber Energy, is listed on Hong Kong Stock Exchange (HK.0090, IPO 2009). In its fast expansion over the past decade, Puxing Energy has established strong ties with local governments, the State Grid and various financial institutions, and is ready to expand into more sophisticated areas like energy storage and smart grid, to become a full-fledged energy solution provider.

About NEC Corporation

NEC Corporation is a leader in the integration of IT and network technologies that benefit businesses and people around the world. By providing a combination of products and solutions that cross utilize the company’s experience and global resources, NEC’s advanced technologies meet the complex and ever-changing needs of its customers. NEC brings more than 100 years of expertise in technological innovation to empower people, businesses and society. For more information, visit NEC at http://www.nec.com.

NEC is a registered trademark of NEC Corporation. All Rights Reserved. Other product or service marks mentioned herein are the trademarks of their respective owners. ©2014 NEC Corporation.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing bes...
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
DevOps at Cloud Expo – being held October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real r...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory?
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software in the hope of capturing value in IoT. Although IoT is relatively new in the market, it has already gone through many promotional terms such as IoE, IoX, SDX, Edge/Fog, Mist Compute, etc. Ultimately, irrespective of the name, it is about deriving value from independent software assets participating in an ecosystem as one comprehensive solution.
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
SYS-CON Events announced today that A&I Solutions has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 1999, A&I Solutions is a leading information technology (IT) software and services provider focusing on best-in-class enterprise solutions. By partnering with industry leaders in technology, A&I assures customers high performance levels across all IT environments including: mai...
SYS-CON Events announced today that Systena America will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Systena Group has been in business for various software development and verification in Japan, US, ASEAN, and China by utilizing the knowledge we gained from all types of device development for various industries including smartphones (Android/iOS), wireless communication, security technology and IoT serv...
Every successful software product evolves from an idea to an enterprise system. Notably, the same way is passed by the product owner's company. In his session at 20th Cloud Expo, Oleg Lola, CEO of MobiDev, will provide a generalized overview of the evolution of a software product, the product owner, the needs that arise at various stages of this process, and the value brought by a software development partner to the product owner as a response to these needs.
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to ov...
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
SYS-CON Events announced today that Outscale will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outscale's technology makes an automated and adaptable Cloud available to businesses, supporting them in the most complex IT projects while controlling their operational aspects. You boost your IT infrastructure's reactivity, with request responses that only take a few seconds.
SYS-CON Events announced today that Progress, a global leader in application development, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Enterprises today are rapidly adopting the cloud, while continuing to retain business-critical/sensitive data inside the firewall. This is creating two separate data silos – one inside the firewall and the other outside the firewall. Cloud ISVs ofte...
SYS-CON Events announced today that Interoute has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Interoute is the owner operator of Europe's largest network and a global cloud services platform, which encompasses over 70,000 km of lit fiber, 15 data centers, 17 virtual data centers and 33 colocation centers, with connections to 195 additional partner data centers. Our full-service Unifie...
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...